Maryland Bankruptcy Exemptions
Unless otherwise noted, all law references are to the Maryland Code of Courts & Judicial Proceedings.
Property you occupy to $21,625 (spouses may double). Property held as tenancy in the entirety to unlimited amount as to debts of one spouse.
Bus. Reg. 5-503 - Burial plot.
Bus. Reg. 5-602 - Perpetual care trust funds.
Educ. 18-1913 - Prepaid college trust funds.
11-504 - Clothing, household goods, furnishings, appliances, books, and pets up to $1,000 total; health aids; lost future earnings recoveries.
Comm. 15-601.1 - Earned but unpaid wages are exempt as follows: in Caroline, Kent, Queen Anne's, and Worcester counties, the greater of 75% of actual wages or 30 times the federal minimum wage; in all other counties, the greater of 75% or $145 per week.
11 U.S.C. § 522 - Tax exempt retirement accounts (including 401(k)s, 403(b)s, profit-sharing and money purchase plans, SEP and SIMPLE IRAs, and defined benefit plans).
11 U.S.C. § 522(b)(3)(C)(n) - IRAS and Roth IRAs to $1,171,150.
State Pers. & Pen. 21-502 - State employees
11-504 - ERISA-qualified benefits, including IRAs, Roth IRAs and Keoghs.
Labor & Employ. 8-106 - Unemployment compensation.
Labor & Employ. 9-732 - Workers' compensation.
Code of 1957 art. 24 16-103 - Baltimore police death benefits.
Crim. Proc. 11-816 - Crime victims' compensation.
Tools of Trade
11-504 - Tools, books, instruments, appliances, and clothing needed for work up to $5,000.
Ins. 8-431 - Fraternal benefit society benefits.
Ins. 16-111 - Life insurance or annuity contract proceeds, dividends, interest, loan, cash, or surrender value if beneficiary is a dependent of the insured.
Comm. 15-601.1 - Medical benefits deducted from wages as well as medical insurance payments up to $145 per week or 75% of disposable wages.
11-504 - Disability or health benefits.
11-504 - Child support and alimony to the same extent that wages are exempt.
11-504(b)(5) - $6,000 in cash or any property if claimed within 30 days of attachment or levy.
11-504(f) - Any real or personal property up to $5,000 total.